Indian Prime Minister Narendra Modi hugs US President Donald Trump as they deliver a joint statement in the Rose Garden of the White House in Washington, June 26, 2017.
Kevin Lamarque | Reuters
Asian markets on Tuesday showed a stunning reversal from the previous day. South Korea’s Kospi led the region’s gains, jumping 6.7% as of 1:40 a.m. ET after triggering a pause in buy orders in early trading. The index remained closed on the sell side on Wednesday as it fell more than 5%.
A trade deal between the US and India also stimulated New Delhi markets.
indian nifty 50 It soared as much as 5% at the start of trading on Monday after US President Donald Trump announced he would cut so-called reciprocal tariffs on India from 25% to 18%. As part of the deal, New Delhi will “buy America” at a “much higher level” and stop buying oil from Russia. Trump said India would instead import from the United States and possibly Venezuela.
“Combined with the recently concluded India-EU trade deal, this could be one of the strongest external growth stimuli for the Indian economy in 2026,” said Trideep Bhattacharya, president of equities at Edelweiss Asset Management.
A series of positive developments were also seen in gold and silver. Prices for both precious metals rebounded on Tuesday, with spot gold up 4.8% and spot silver 7.3% at press time. However, some analysts are concerned that silver is becoming the “meme trade” of the year.
Major U.S. indexes also rose on Monday. of S&P500 Add 0.54%, Dow Jones Industrial Average Increased by 1.05%, Nasdaq Composite It rose by 0.56%.
On the continent, France finally passed its long-delayed 2026 budget after Prime Minister Sébastien Lecorne weathered two no-confidence motions.
What you need to know today
SpaceX will acquire startup xAI, Elon Musk announced in a blog post on Monday. The combined company is gearing up for an IPO, with a stock value expected to reach $1.25 trillion, giving xAI a much-needed infusion of cash, Bloomberg reported.
SoftBank subsidiary CyMemory has signed a deal with Intel to collaborate on next-generation memory technology, the companies announced on Tuesday. According to SoftBank’s press release, the prototype is expected to be completed by the fiscal year ending March 31, 2028, and commercialization by fiscal 2029.
Australia’s central bank raised its policy rate by 25 basis points on Tuesday, bringing the policy rate to 3.85%. The Reserve Bank of Australia’s interest rate hike is the first since November 2023 and comes as inflation remains higher than expected.
Asia-Pacific markets rebounded on Tuesday, recovering from Monday’s steep declines. Korean Kospi Japan rose more than 6% Nikkei Stock Average Approximately 3.9% was added. Still, U.S. stocks rose on Monday. Nvidia The company lost 2.9% following reports that its $100 billion investment plan in OpenAI had fallen through.
(PRO) Robot topics. Musk announced on Wednesday: tesla is converting a factory in California to make Optimus robots, and rivals in China are ramping up deliveries of humanoid robots. morgan stanley We believe these companies will benefit from industry growth.
And finally…
Chinese organized crime networks will move $16 billion in cryptocurrencies in 2025: Report
Chinese money laundering networks amassed an estimated $16.1 billion in illicit funds through cryptocurrency transactions in 2025, according to a report released Tuesday by blockchain data analysis firm Chainalysis.
These networks, known as CMLN, accounted for approximately one-fifth of the illicit cryptocurrency ecosystem in 2025, and Chainalysis valued the ecosystem at more than $82 billion. Criminal networks primarily operate through various channels and chat groups on the messaging platform Telegram, where launderers advertise their services to potential customers.
— Matthew Chin
